The Importance of Return on Investment (ROI) for Writers

‎By Fay Lamb

I’m about to give you some cold, hard truth. Rick Castle is a fictional character. The number of authors who support themselves on royalties, let alone live in a condo in the middle of New York City or any other high-priced locale, are few and far between.

Oh, they do exist. I can name three of them without giving much thought to it.

However, in today’s world where, let’s face it, the market is saturated with people who believe they can write and readers who have been taken too many times, it is so much harder to support oneself on writing alone.

This is why every dollar invested in a writer’s career should be scrutinized. This careful examination of a writer’s budget should begin before the first word is written. For example, as a new author, how valuable is coaching to your career? When the first draft is written or the second or the third, what would be the reasonable cost of an edit? Then, glory hallelujah, a contract is written or a writer is skilled enough in the elements of their craft to publish a book. That’s when the cost of marketing must be considered. Make no mistake about it: even traditionally published authors must shell out payment for marketing. Facebook and Twitter are definitely not going to get the job done.

The mistake that most writers make is paying heavy fees on the front end without considering the return on investment they are likely to receive. They seek an editor or a coach, and they may find good ones, or they might find predators—individuals who have no idea what must go into a novel or a book of non-fiction to make it publishable. As an acquisition editor, a freelance editor, and an occasional writing coach, I have read many submissions in which I’ve commented that a freelance edit would benefit a writer only to learn that the work has already been edited, and I use that term loosely. Then I shudder at the price the person has paid for the edit or the coaching, knowing that the writer is likely never to recoup the money spent.

A key to hiring an editor is to ask for and review their resume. Ask them for author references and for titles that they’ve edited. Follow up on these references and ask the authors if they feel as if they received a good return for their investment. Then read what the editor has edited. Is it the type of editing you require?

Also, spell out for the editor what you require. A good fiction editor understands the elements that go into each genre of fiction. They’ll look for plot holes, for areas of inconsistency, and places where the elements are not strong. An editor of non-fiction understands the framework that publishers desire and will work to put the manuscript into that format.

Oh, and anyone who knows the industry is aware of the importance of return on investment. They will not charge you the same going rate they would charge a J.K. Rowling, or a James Patterson or a John Grisham. See, I told you I could name three authors who can live the Rick Castle lifestyle.

While those three authors have names that sell, you and I most likely do not. So, our only remedy is to get out there into the marketplace and make our names familiar. I’ve already said that Facebook and Twitter are not going to get the job done. We’re marketing to our own people group—mostly authors, and Facebook and Twitter are saturated. The return on investment is good, if you want nothing for nothing or a little for something. There are ways to make them work, but a savvy author needs to reach outside his or her comfort zone, to find traditional ads and marketing that costs them something. In the same way that they carefully examine the cost of an editor or a coach, they should ask questions of other authors who have tried different types of marketing. Authors are usually very kind to tell each other what works and doesn’t work. Authors should price various size ads on websites or in magazines or any venue they plan to work in and research the traffic for those venues.

Click to tweet: Return on Investment or ROI. A savvy author need to reach outside his or her comfort zone. Why? #amediting #IndieAuthors

Another suggestion to lower the individual cost for advertisement is to work in groups, either with authors who write the same genre for a publisher or who self-publish in the same genre. A caution, though: be sure that that the authors promoting with you write to the same standard whether it be social, morals, or in talent.

Start slow. You’ll have to pull from your own pocket at first. Always reinvest your earnings, seeking for a return on investment and eventually striving to put the money you invested back into your own pocket.

Writing Prompt: Jane stared at the returned manuscript proposal in front of her. The story is good. But have you thought about having it edited? The problem was…

 

Editing: You Lose to Gain

By Jennifer Hallmark

Editing. Such an important part of writing. It might seem counter-productive to write 10,000 words, then take out several hundred while editing. Remember, you lose wordiness to gain clarity.

Have you been able to read all our articles this month? If not, I’ll share the links so you can go back and check them out.

How to Choose the Right Editor

Choosing a Freelance Editor

Pros and Cons of Self-Editing

Which Editor Will You Choose?

Do You Need Help Editing Fiction? Try These Books

Meet Jennifer Uhlarik—Managing and Acquisitions Editor for Trailblazer Western Fiction

So How Do You Find an Editor?

Why Do I Need an Editor?

Editing. So very important. But let’s remember to first tell the story, and then edit. Too much editing at the beginning, unless you’re very experienced, will dilute the essence of what you’re creating. And that would be a great loss…

Join us in May to learn about the publishing market in 2019. We’re going to look at many phases of publishing with articles, interviews, and first-hand experiences. You won’t want to miss it.

Click to tweet: Editing. @InspiredPrompt Editing helps you lose wordiness to gain clarity. #editing #amwriting

Writing Prompt: Edit this short paragraph in the comments. Get creative…

John realized their relationship was over. He saw April with the other guy. He decided it had to be a date or why were they standing so close? His hand slammed the book he’d been reading. Wait. He could hear footsteps. Could it be April coming back to apologize or something?

So How Do You Find an Editor?

By Cammi Woodall

Our articles this month have told us all about editors. I personally did not realize the different types of editors available. My mental picture was always a hunched figure surrounded by stacks of books, red pencil scribbling and slashing! April’s articles have taught me I have much to learn. So now that we know what an editor does and we know if we need one, how do we find that elusive creature?

  1. Family and friends – We all do it. We have our finished project and we pass it along to a sibling, parent, or friend with the request, “Tell me if you find any errors!” But how many of us have family and friends who edit and proofread professionally? This is a good first step to editing, but often we need more.
  2. Online platforms like Reedsy, Upwork, Ebook Launch, or New York Book Editors. These and other sites like them are staffed by vetted professionals. Most will look at various genres and offer a range of prices.
  3. Let the editors come to you. Authors can post editing jobs on various sites like the Editorial Freelancers Association, Guru, or Servicescape. A writer can post a job listing the specifics, such as what kind of editing needed, total pages, turnaround time, and payment.
  4. Read articles about your favorite authors, scan their social media pages, and look at their websites. Writers will often thank the management team.

A word of caution: there are scams and con artists in the publishing world. Research any editor or service before you pay to make sure they are legitimate. One popular website I have always heard about is pred-ed.com, known as Predators and Editors.  At the time of this writing, the website is under construction and is moving to a new platform with new staff. Keep an eye out for them.

Another popular service I came across is Writer Beware. This service is sponsored through the Science Fiction Writers of America, the Mystery Writers of America, the Horror Writers Association, and the American Society of Journalists and Authors. Writer Beware has a Facebook page, plus can be accessed through accrispin.blogspot.com. It has been going since 1998 and had posts on the blog as recent as March 29 of this year, so it appears to be going strong. Their goal is to help new, aspiring authors as well as established writers. I found information about company alerts, scams, and legal actions. Their March post was updating information from 2011 and 2012 about a company.

We all know that writing a book is not a solitary venture. While we do toil at our keyboards or notebooks alone, a published book requires a team of dedicated members all working for the same goal – that perfect book. Hopefully our help this month will lead you straight to the perfect editor for your project. Happy writing!

Writing Prompt – She didn’t know if she could carry her burden any farthe.

Choosing a Freelance Editor

By Fay Lamb

Hiring a freelance editor may be one of the most important decisions you make in your career, but there are precautions you should take in order to find the editor most suited to your needs.

First, I want to say that the most effective use of a freelance editor is not to rewrite or to revise an author’s work but to catch the mistakes that might have been made or the areas that might have missed because the author is too close to the work.

Now, with regard to the qualifications of an editor, I do not believe that an editor needs to have a degree, but I do believe that they need to have studied the craft of writing and have the ability to show forth a knowledge of the specific area in which they are being requested to offer an edit.

Editors who claim to be able to edit everything should be viewed skeptically. For instance, if I were writing a college thesis on a highly specialized field, I would search for an editor familiar with that field of research, not an editor who would simply look for comma placement or spelling. In fact, I’d be worried that the spelling would be a problem for someone unfamiliar with the subject.

Let’s bring it down to our scope, though. In fiction, there are genres, and each genre requires specific techniques. Thrillers are fast paced, barely leaving time for the reader to breathe while romantic suspense will speed up and slow down depending upon the type of suspense being portrayed. Romance, well, it lingers, but it is often formulaic, and an editor will need to know the formula. Historical fiction is another beast altogether, and nothing can be taken for granted, even word choice. I know, historical fiction is not my expertise.

Overall, though, fiction has elements such as plot, conflict, suspense, proper use of dialogue, showing and not telling, deep point of view, and characterization. An editor who is unaware of this canvas upon which an author creates can do little to help the author should the brush stroke be imperfect.

There’s also non-fiction. In fact, this editor will only edit non-fiction if the author is requesting proofreading and nothing more. Why? I do not have the expertise in this format either, and my lack of knowledge will harm an author.

Another important thing to know when it comes to hiring a freelance editor is the going rate, and many authors will be surprised at what it will cost because most freelance editors don’t care about the author’s return on investment. They’re rightfully concerned with their return on investment. Thus my reason for stating why an editor should not be used to revise or rewrite.

Before agreeing to a contract with a freelance editor, an author should ask for a free chapter edit. This will be of benefit not only to the author but to the editor. As a freelance editor, I often use those free edits to determine if the author is ready for publication. If not, I will refuse the edit and will offer suggestions on how they might improve their writing. If I find that the author has a command of the story, I am then able to determine the length of the manuscript and offer my estimate, which is always the highest fee I will charge, and sometimes if the edits take less effort, I charge less.

This leads me to the most important advice that I can give to an author seeking a freelance editor: never agree to an open-ended hourly contract. An editor who has given you a chapter edit may estimate high in case the story falls apart somewhere along the line, but agree up front to the total cost and to the terms of payment. If an editor is unwilling to provide the cost up front, run away.

Again, it is important to note, in order to utilize the freelance editor’s time and the money you pay most effectively, send the editor your cleanest manuscript. Utilize an editor’s expertise to find the mistakes you missed and not to clean up the mistakes you didn’t want to remedy.

Click to tweet: Choosing a Freelance Editor by Fay Lamb. “Editors who claim to be able to edit everything should be viewed skeptically.” #editing #amwriting

Writing Prompt: In leiu of a prompt, tell us whether you use a critique group, a critique partner, or hire a freelance editor? Why?

Freelance Writing: The Pros and Cons

By Jennifer Hallmark

So, you’re writing the Next Great American Novel but want to make extra money in the meantime. Many opportunities abound in the world today: Writing for magazines, e-zines, newspapers, blogs, copywriting, and technical writing to name a few.

Take time to study the market versus your skills and then choose a direction and stick with it. If one type of writing doesn’t work out, try something that might suit you better. You can start penning words for free sites and building a resume which in turn could land you paying jobs.

What are the pros and cons of freelance writing?

The Pros include:

·         You can make your own schedule. This works great especially if you have another job or young children at home.

·         After you are established, you can choose the work you want.

·         You can write on a plethora of topics: the variety is endless.

·         Freelance writing can provide a good resume if you are trying to sign an agent or impress a publisher.

The Cons include:

·        Variety of payment amounts and sporadic time between payments.

·        Working at home can be distracting with chores and other family members close at hand.

·        Difficulty in finding the type of work that fits you best.

·        Burning out when writing novels and freelance.

The most important point is to weigh the money you’d like to make against whether you can work hard enough and write consistently enough to earn what you’d like to make. You might find a part-time job away from home that will meet your needs in a better way. If you’re still unsure, put aside a month and research the market, then send out a few queries to see if you can find interest in your ideas.

And don’t give up your novel writing. We can’t wait to read it…

Click to tweet: Freelance Writing: The Pros and Cons. #freelance #amwriting

Writing Prompt: Nancy circled the ad in the newspaper. Copywriters wanted. She wanted to prove to everyone that she could do this. But what if…